Income Taxes

3 Months Ended

Mar. 31, 2022

Income Taxes

Note 7. Income Taxes

(7) Income Taxes

At December 31, 2021, the Company had an operating loss carryforward of approximately, $69,349,000 available to reduce future taxable income. These operating losses expire at various dates through 2040.

The following summarizes the temporary differences of the Company at March 31, 2022 and December 31, 2021 at the statutory rate:

	March 31,			December 31,
	2022			2021
	($ in thousands)
Deferred tax asset
Net operating loss carryforward	$	18,248		$	18,154
Expenses capitalized under IRC 263(a)		37			37
Tax credits (AMT)		57			57
Valuation allowance		(18,342	)		(18,248	)
Total deferred tax asset	$	-		$	-